Chemical Bank cut its position in Linde PLC (NYSE:LIN) by 22.7% in the 1st quarter, HoldingsChannel.com reports. The firm owned 7,075 shares of the basic materials company’s stock after selling 2,073 shares during the period. Chemical Bank’s holdings in Linde were worth $1,245,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in LIN. Patriot Financial Group Insurance Agency LLC bought a new stake in shares of Linde during the 1st quarter valued at $29,000. Truvestments Capital LLC bought a new stake in shares of Linde during the 1st quarter valued at $30,000. Heritage Trust Co bought a new stake in shares of Linde during the 4th quarter valued at $31,000. Sharkey Howes & Javer bought a new stake in shares of Linde during the 4th quarter valued at $31,000. Finally, Flagship Harbor Advisors LLC bought a new stake in shares of Linde during the 4th quarter valued at $31,000. Institutional investors and hedge funds own 74.12% of the company’s stock.
In other Linde news, Director Thomas Enders acquired 6,600 shares of the company’s stock in a transaction that occurred on Friday, March 22nd. The stock was acquired at an average cost of $172.16 per share, for a total transaction of $1,136,256.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Anne K. Roby sold 3,159 shares of the company’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $176.77, for a total value of $558,416.43. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 65,926 shares of company stock valued at $12,140,692. 0.23% of the stock is owned by corporate insiders.
Shares of LIN stock opened at $180.92 on Thursday. The company has a quick ratio of 1.21, a current ratio of 1.35 and a debt-to-equity ratio of 0.22. Linde PLC has a twelve month low of $145.95 and a twelve month high of $185.92. The firm has a market cap of $98.55 billion, a P/E ratio of 28.28, a price-to-earnings-growth ratio of 1.97 and a beta of 0.77.
Linde (NYSE:LIN) last announced its quarterly earnings data on Friday, May 10th. The basic materials company reported $1.69 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.15. Linde had a return on equity of 14.95% and a net margin of 23.52%. The business had revenue of $6.94 billion during the quarter, compared to the consensus estimate of $7.03 billion. On average, research analysts expect that Linde PLC will post 6.86 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 3rd will be given a dividend of $0.875 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $3.50 annualized dividend and a dividend yield of 1.93%.
LIN has been the subject of a number of recent analyst reports. Societe Generale reiterated a “buy” rating on shares of Linde in a research report on Monday, April 15th. Argus initiated coverage on Linde in a research report on Friday, March 22nd. They set a “hold” rating and a $175.10 target price for the company. ValuEngine downgraded Linde from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. KeyCorp upped their target price on Linde from $188.00 to $205.00 and gave the company an “overweight” rating in a research report on Wednesday, April 3rd. Finally, BMO Capital Markets upgraded Linde from a “market perform” rating to an “outperform” rating and set a $210.00 target price for the company in a research report on Monday. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $193.73.
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Linde plc operates as an industrial gas company in North and South America, Europe, the Middle East, Africa, and the Asia Pacific. The company offers oxygen, nitrogen, argon, rare gases, carbon monoxide, carbon dioxide, helium, hydrogen, electronic gases, specialty gases, and acetylene. It also designs and constructs turnkey process plants, such as olefin, natural gas, air separation, and hydrogen and synthesis gas plants.
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